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Technology Stocks : Softbank Group Corp

SFTBY 88.35

+0.5%

9:30 AM EST

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To: TobagoJack who wrote (5338)	6/30/2000 4:35:09 PM
From: Edwin S. Fujinaka	Read Replies (1) of 6018

I sense a growing pessimism as to whether Softbank will ever see another run like 1999. I suppose not. Still, it is hard to envision the internet not continuing to grow and it is equally hard to envision Softbank not growing right along with the entire sector. I'm beginning to view Softbank as sort of my internet mutual fund, and like most mutual funds, I am now expecting only modest growth. For the Internet, modest growth might mean a doubling every year. We are clearly spoiled when anticipation of doubling is not enough for all of us internet junkies. We'll see if July of 2001 has Softbank at $300/share <G>. A little commentary from Nikkei Net on the banking business (Why do I find the idea of being in the banking business so boring?): Friday, June 30, 2000 FRC Finalizes Plan To Forgive Sogo Debt TOKYO (Nikkei)--Japan's Financial Reconstruction Commission made a final decision Friday to enable the government-run Deposit Insurance Corp. to take over problem loans owed by Sogo Co. (8243) to Shinsei Bank and forgive them in part. Deposit Insurance will use a financial reconstruction account financed by public funds to buy 200 billion yen worth of loans extended to Sogo and then forgive 97 billion yen of the amount. It will also be given priority to receive repayment on the remaining loan amount ahead of other lenders to the troubled operator of a department store chain. The commission heard a report from Deposit Insurance on the public burden resulting from either accepting Sogo's reconstruction plan, including debt forgiveness, or rejecting it. The commission made the final decision on the problem of the Sogo loans "on the basis of which plan would minimize the burden on taxpayers," FRC Chief Sadakazu Tanigaki said. The FRC also decided on Friday to allow Deposit Insurance to sign a formal contract with a group headed by Softbank Corp. (9984) to take over the now nationalized Nippon Credit Bank. About 90 regional and foreign-owned financial institutions are involved in the consortium set to buy NCB. The revived bank will begin operations under new management as early as August. (The Nihon Keizai Shimbun Friday evening edition)

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